Changes
→History: reference
{{refimprove|date=March 2018}}
{{Infobox company
| name = Northwestern Mutual
| type = Private ([[Mutual company|Mutual]])
| logo = Northwestern Mutual logo.svg
| foundation = 1857
| location = [[Milwaukee|Milwaukee, Wisconsin]]
| key_people = John Schlifske, chairman and CEO, Greg Oberland, president
| num_employees = 7,500 (2017)
| industry = [[Financial Services]]
| products = [[Insurance]] and [[investments]]
| revenue = {{profit}}$28.158 billion [[United States dollar|USD]] (2016)<ref>{{cite web| url=https://www.northwesternmutual.com/about-us/what-we-believe/our-commitment-to-financial-strength| title=Our Commitment to Financial Strength| date=31 December 2016| accessdate=July 15, 2017| publisher=Northwestern Mutual}}</ref>
| net_income = {{profit}}$818 million [[United States dollar|USD]] (2016)
| homepage = {{url|https://www.northwesternmutual.com/}}
}}
The '''Northwestern Mutual''' is an [[United States|American]] [[financial services]] [[mutual organization]] based in [[Milwaukee]]. The financial security company provides consultation on wealth and asset income protection, education planning, [[retirement planning]], investment advisory services, trust and private client services, [[estate planning]] and business planning. Its products include [[life insurance]], disability income, and [[long-term care insurance]]; [[Annuity (US financial products)|annuities]]; [[investments]]; and investment advisory products and services.<ref name="NMFactSheet">{{cite web| title=Northwestern Mutual Fact Sheet for 2016| publisher=Northwestern Mutual| url=https://www.northwesternmutual.com/about-us/what-we-believe/we-believe-in-milwaukee?tab=fact-sheet-1-1| accessdate=August 17, 2016}}</ref>
==History==
Northwestern Mutual was founded as the Mutual Life Insurance Company of the State of [[Wisconsin]] on March 2, 1857. Originally located in [[Janesville, Wisconsin]], the fledgling company relocated to Milwaukee in 1859. Shortly after, the company experienced its first two death claims, when an excursion train traveling from Janesville to [[Fond du Lac, Wisconsin]] derailed, killing 14 people, two of whom were policy owners.{{cn|date=February 2017}} With losses amounting to $3,500 and having funds of only $2,000, company President Samuel Daggett and Treasurer Charles Nash personally borrowed the needed funds to pay the claims immediately.
Following the accident, the company saw a rapid increase in its sales and an expansion into new markets. By 1865, it was operating throughout the [[Midwestern United States|Midwest]] and had entered the market along the [[East coast of the United States|East coast]]. To reflect this increased presence, the board of trustees changed the company’s name to The Northwestern Mutual Life Insurance Company. In 1864, the company paid its first [[dividends]] to policy owners. It again paid dividends in 1867 and 1870, and has done so annually since 1872.<ref name="Northwestern Mutual Again to Pay Record Dividend">{{cite news| title=Northwestern Mutual Again to Pay Record Dividend| newspaper=BizTimes| url=https://www.biztimes.com/2015/10/28/northwestern-mutual-again-to-pay-record-dividend/| last=Dill| first=Molly| date=October 28, 2015| accessdate=March 25, 2018}}</ref>
Throughout the early years of the 20th century, Northwestern Mutual focused on [[life insurance]]. At the same time, the company worked to increase its accountability. In 1907, company leaders invited policy owners who were ''not'' trustees to probe into finances for accountability. This unique tradition has continued to the present day; members of the Policy owners’ Examining Committee have unrestricted access to evaluate Northwestern Mutual’s operations, management and strategic plans independently.<ref>{{cite news| last=Burnell| first=Susan| title=The Mutual Advantage: How Northwestern Mutual Stays Strong and Relevant| url=http://www.forbescustom.com/SectionPDFs/050712NorthwesternMutualSection.pdf| journal=[[Forbes]]| accessdate=August 17, 2016}}{{dead link|date=March 2018}}</ref>
In 1969, the company began offering disability income insurance. Less than a decade later, a series of retirement annuities were introduced for the employee benefits market. In the 1990s, the company saw further growth with the introduction of its [[long-term care insurance]]. In 2000, the company changed its name to reflect this broadening of its product offerings to just Northwestern Mutual.<ref name="NMTimeline">{{cite web| title= Northwestern Mutual Historical Timeline| publisher=Northwestern Mutual| url=http://www.nmfn.com/tn/learnctr--nm_hist_timeline| accessdate=2009-11-10| archiveurl=https://web.archive.org/web/20091124180804/http://www.nmfn.com/tn/learnctr--nm_hist_timeline| archivedate=2009-11-24}}</ref>
In 2001 the company continued to expand its product and service offerings by launching a wholly owned subsidiary known today as Northwestern Mutual Wealth Management Company (NMWMC), a [[federal savings bank]]. Through NMWMC, the company offers a range of financial planning products and services including investment management, fee-based financial planning, business retirement plans, and trust and private client services.<ref name="NMFactSheet"/>
In 2015 Northwestern Mutual began construction of [[Northwestern Mutual Tower and Commons]], which opened in 2017.<ref>{{cite news| last=Sadovi| first=Maura Webber| title=Milwaukee Office Tower to Get Silicon Implant| url=https://www.wsj.com/articles/SB10001424052702303983904579093354216290692| newspaper=[[The Wall Street Journal]]| date=September 24, 2013| accessdate=March 26, 2018| subscription=yes}}</ref><ref>{{cite press release| url=http://urbanmilwaukee.com/pressrelease/northwestern-mutual-tower-and-commons-preparing-for-27-hour-concrete-foundation-pour/| title=Northwestern Mutual Tower and Commons Preparing for 27-Hour Concrete Foundation Pour| publisher=Northwestern Mutual| date=March 23, 2015}}</ref><ref>{{cite web |url=http://www.wisn.com/article/wisconsin-s-second-tallest-building-in-the-state-is-now-open/12045216 |title=Wisconsin's second-tallest building opens |last=Mintz |first=Hillary |date=August 21, 2017 |journal=[[WISN-TV]] News |language=en |access-date=2018-02-14}}</ref><ref>[https://www.bizjournals.com/milwaukee/news/2018/04/12/northwestern-mutual-tower-named-project-of-the.html Northwestern Mutual Tower named Project of the Year in Milwaukee Business Journal Real Estate Awards] Mark Kass, ''[[Milwaukee Business Journal]]'',
April 12, 2018</ref>
On March 25, 2015, Northwestern Mutual bought financial planning company [[LearnVest]] for over $250 million.<ref>{{cite news| url=http://www.businessinsider.com/northwestern-mutual-acquires-learnvest-2015-3|title=LearnVest, one of New York's fastest-growing startups, just got acquired by Northwestern Mutual for more than $250 million| last=Kosoff| first=Maya| journal=[[Business Insider]]| date=May 25, 2015}}</ref>
==Marketing==
Northwestern Mutual serves as the presenting sponsor of the [[Rose Bowl Game]], an [[NCAA Division I]] [[college football]] [[bowl game]] played annually on [[New Year's Day]].<ref>{{cite news| last=Myerberg| first=Paul| title=Northwestern Mutual to sponsor Rose Bowl| url=https://www.usatoday.com/story/sports/ncaaf/2014/05/13/college-football-playoff-northwestern-mutual-rose-bowl-sponsorhip/9040331/| newspaper=[[USA Today]]| date=May 13, 2014| accessdate=December 27, 2017}}</ref>
==See also==
* [[List of tallest buildings in Milwaukee]]
==References==
{{Primary sources|date=April 2011}}
{{reflist|2}}
==External links==
* {{Official website|https://www.northwesternmutual.com/}}
* [http://money.cnn.com/magazines/fortune/fortune500/snapshots/1880.html Fortune 500: Northwestern Mutual]
* [https://www.usatoday.com/money/companies/management/advice/2009-10-18-edward-zore-northwestern-mutual_N.htm October 2008 Q&A with CEO Ed Zore]
{{Major insurance companies}}
{{Milwaukee Based Companies}}
[[Category:Mutual insurance companies of the United States]]
[[Category:Life insurance companies]]
[[Category:Companies based in Milwaukee]]
[[Category:American companies established in 1857]]
[[Category:1857 establishments in Wisconsin]]
{{Infobox company
| name = Northwestern Mutual
| type = Private ([[Mutual company|Mutual]])
| logo = Northwestern Mutual logo.svg
| foundation = 1857
| location = [[Milwaukee|Milwaukee, Wisconsin]]
| key_people = John Schlifske, chairman and CEO, Greg Oberland, president
| num_employees = 7,500 (2017)
| industry = [[Financial Services]]
| products = [[Insurance]] and [[investments]]
| revenue = {{profit}}$28.158 billion [[United States dollar|USD]] (2016)<ref>{{cite web| url=https://www.northwesternmutual.com/about-us/what-we-believe/our-commitment-to-financial-strength| title=Our Commitment to Financial Strength| date=31 December 2016| accessdate=July 15, 2017| publisher=Northwestern Mutual}}</ref>
| net_income = {{profit}}$818 million [[United States dollar|USD]] (2016)
| homepage = {{url|https://www.northwesternmutual.com/}}
}}
The '''Northwestern Mutual''' is an [[United States|American]] [[financial services]] [[mutual organization]] based in [[Milwaukee]]. The financial security company provides consultation on wealth and asset income protection, education planning, [[retirement planning]], investment advisory services, trust and private client services, [[estate planning]] and business planning. Its products include [[life insurance]], disability income, and [[long-term care insurance]]; [[Annuity (US financial products)|annuities]]; [[investments]]; and investment advisory products and services.<ref name="NMFactSheet">{{cite web| title=Northwestern Mutual Fact Sheet for 2016| publisher=Northwestern Mutual| url=https://www.northwesternmutual.com/about-us/what-we-believe/we-believe-in-milwaukee?tab=fact-sheet-1-1| accessdate=August 17, 2016}}</ref>
==History==
Northwestern Mutual was founded as the Mutual Life Insurance Company of the State of [[Wisconsin]] on March 2, 1857. Originally located in [[Janesville, Wisconsin]], the fledgling company relocated to Milwaukee in 1859. Shortly after, the company experienced its first two death claims, when an excursion train traveling from Janesville to [[Fond du Lac, Wisconsin]] derailed, killing 14 people, two of whom were policy owners.{{cn|date=February 2017}} With losses amounting to $3,500 and having funds of only $2,000, company President Samuel Daggett and Treasurer Charles Nash personally borrowed the needed funds to pay the claims immediately.
Following the accident, the company saw a rapid increase in its sales and an expansion into new markets. By 1865, it was operating throughout the [[Midwestern United States|Midwest]] and had entered the market along the [[East coast of the United States|East coast]]. To reflect this increased presence, the board of trustees changed the company’s name to The Northwestern Mutual Life Insurance Company. In 1864, the company paid its first [[dividends]] to policy owners. It again paid dividends in 1867 and 1870, and has done so annually since 1872.<ref name="Northwestern Mutual Again to Pay Record Dividend">{{cite news| title=Northwestern Mutual Again to Pay Record Dividend| newspaper=BizTimes| url=https://www.biztimes.com/2015/10/28/northwestern-mutual-again-to-pay-record-dividend/| last=Dill| first=Molly| date=October 28, 2015| accessdate=March 25, 2018}}</ref>
Throughout the early years of the 20th century, Northwestern Mutual focused on [[life insurance]]. At the same time, the company worked to increase its accountability. In 1907, company leaders invited policy owners who were ''not'' trustees to probe into finances for accountability. This unique tradition has continued to the present day; members of the Policy owners’ Examining Committee have unrestricted access to evaluate Northwestern Mutual’s operations, management and strategic plans independently.<ref>{{cite news| last=Burnell| first=Susan| title=The Mutual Advantage: How Northwestern Mutual Stays Strong and Relevant| url=http://www.forbescustom.com/SectionPDFs/050712NorthwesternMutualSection.pdf| journal=[[Forbes]]| accessdate=August 17, 2016}}{{dead link|date=March 2018}}</ref>
In 1969, the company began offering disability income insurance. Less than a decade later, a series of retirement annuities were introduced for the employee benefits market. In the 1990s, the company saw further growth with the introduction of its [[long-term care insurance]]. In 2000, the company changed its name to reflect this broadening of its product offerings to just Northwestern Mutual.<ref name="NMTimeline">{{cite web| title= Northwestern Mutual Historical Timeline| publisher=Northwestern Mutual| url=http://www.nmfn.com/tn/learnctr--nm_hist_timeline| accessdate=2009-11-10| archiveurl=https://web.archive.org/web/20091124180804/http://www.nmfn.com/tn/learnctr--nm_hist_timeline| archivedate=2009-11-24}}</ref>
In 2001 the company continued to expand its product and service offerings by launching a wholly owned subsidiary known today as Northwestern Mutual Wealth Management Company (NMWMC), a [[federal savings bank]]. Through NMWMC, the company offers a range of financial planning products and services including investment management, fee-based financial planning, business retirement plans, and trust and private client services.<ref name="NMFactSheet"/>
In 2015 Northwestern Mutual began construction of [[Northwestern Mutual Tower and Commons]], which opened in 2017.<ref>{{cite news| last=Sadovi| first=Maura Webber| title=Milwaukee Office Tower to Get Silicon Implant| url=https://www.wsj.com/articles/SB10001424052702303983904579093354216290692| newspaper=[[The Wall Street Journal]]| date=September 24, 2013| accessdate=March 26, 2018| subscription=yes}}</ref><ref>{{cite press release| url=http://urbanmilwaukee.com/pressrelease/northwestern-mutual-tower-and-commons-preparing-for-27-hour-concrete-foundation-pour/| title=Northwestern Mutual Tower and Commons Preparing for 27-Hour Concrete Foundation Pour| publisher=Northwestern Mutual| date=March 23, 2015}}</ref><ref>{{cite web |url=http://www.wisn.com/article/wisconsin-s-second-tallest-building-in-the-state-is-now-open/12045216 |title=Wisconsin's second-tallest building opens |last=Mintz |first=Hillary |date=August 21, 2017 |journal=[[WISN-TV]] News |language=en |access-date=2018-02-14}}</ref><ref>[https://www.bizjournals.com/milwaukee/news/2018/04/12/northwestern-mutual-tower-named-project-of-the.html Northwestern Mutual Tower named Project of the Year in Milwaukee Business Journal Real Estate Awards] Mark Kass, ''[[Milwaukee Business Journal]]'',
April 12, 2018</ref>
On March 25, 2015, Northwestern Mutual bought financial planning company [[LearnVest]] for over $250 million.<ref>{{cite news| url=http://www.businessinsider.com/northwestern-mutual-acquires-learnvest-2015-3|title=LearnVest, one of New York's fastest-growing startups, just got acquired by Northwestern Mutual for more than $250 million| last=Kosoff| first=Maya| journal=[[Business Insider]]| date=May 25, 2015}}</ref>
==Marketing==
Northwestern Mutual serves as the presenting sponsor of the [[Rose Bowl Game]], an [[NCAA Division I]] [[college football]] [[bowl game]] played annually on [[New Year's Day]].<ref>{{cite news| last=Myerberg| first=Paul| title=Northwestern Mutual to sponsor Rose Bowl| url=https://www.usatoday.com/story/sports/ncaaf/2014/05/13/college-football-playoff-northwestern-mutual-rose-bowl-sponsorhip/9040331/| newspaper=[[USA Today]]| date=May 13, 2014| accessdate=December 27, 2017}}</ref>
==See also==
* [[List of tallest buildings in Milwaukee]]
==References==
{{Primary sources|date=April 2011}}
{{reflist|2}}
==External links==
* {{Official website|https://www.northwesternmutual.com/}}
* [http://money.cnn.com/magazines/fortune/fortune500/snapshots/1880.html Fortune 500: Northwestern Mutual]
* [https://www.usatoday.com/money/companies/management/advice/2009-10-18-edward-zore-northwestern-mutual_N.htm October 2008 Q&A with CEO Ed Zore]
{{Major insurance companies}}
{{Milwaukee Based Companies}}
[[Category:Mutual insurance companies of the United States]]
[[Category:Life insurance companies]]
[[Category:Companies based in Milwaukee]]
[[Category:American companies established in 1857]]
[[Category:1857 establishments in Wisconsin]]
